Adani Group declares cement projects in Madhya Pradesh at net investment worth ₹3,500 crore

Adani Ports and Special Economic Zones (APSEZ) on Wednesday, August 28, announced setting up a two million-tonne capacity cement grinding unit in Guna and a propellant production facility at Shivpuri in Madhya Pradesh with a total investment of ₹3,500 crore. The Adani Group's ports major is also going to develop a state-of-the-art propellant production facility at Shivpuri.

APSEZ MD Karan Adani announced at the Gwalior Regional Industry Conclave that the unit in Shivpuri is strategically aligned with the Aatmanirbhar mission to transform India from a defence importer to a defence exporter. These two projects would create over 3,500 direct and indirect jobs.

Also Read: Adani-backed Ambuja Cement declares Bihar project with net investment worth ₹1,600 crore: Here’s what it entails

Referring to the investment made by the ports-to-power conglomerate in Madhya Pradesh, he said, "We have already invested ₹18,250 crore and created 12,000 jobs. Gwalior is fast becoming a tourism hotspot, a pool of high-quality talent, and a key transportation and trade hub.''

‘’These developments make Gwalior one of India's emerging economic centres, attracting investments across sectors. The Adani defence facility at Gwalior is the country's largest small arms plant and has positioned Madhya Pradesh as a global hub for small arm manufacturing,'' said Adani.

Referring to the the Adani Foundation, he said that through it, the group has impacted 80,000 households and three lakh lives across Madhya Pradesh with initiatives in healthcare, education, sustainable livelihood, and women's empowerment. "I am proud to announce that we, Adani Foundation, will set up a jacket production centre in Badarwas, which will be 100 per cent owned by women as part of our women empowerment initiative," he said.

Meanwhile, billionaire Gautam Adani's Group-owned Ambuja Cements announced earlier this month that it will invest ₹1,600 crore in its first project in Bihar, marking the largest investment by a cement industry player in the state. As part of the project, Ambuja Cement will set up a cement grinding unit with a total capacity of six million tonnes per annum (MTPA) at Warisaliganj, Bihar.

Adani Ports Q1 Results

Adani Ports announced a 47.2 per cent year-on-year (YoY) increase in consolidated net profit for the June quarter, reaching ₹3,113 crore compared to ₹2,115 crore in the same quarter last fiscal year. Meanwhile, the company's revenue grew 11.34 per cent YoY to ₹6,956.32 crore in Q1.

Meanwhile, quarterly EBITDA increased by 13.1 per cent to ₹4,245 crore, with margins rising to 61 per cent from 60.1 per cent in Q1 of FY24. During the quarter, APSEZ handled 109 MMT of cargo volume, marking an eight per cent year-over-year increase.

Also Read: Adani Enterprises Q1 Results: Net profit zooms 116% to ₹1,454 crore, revenue up 13% YoY; FMCG biz demerger approved